Seyed Reza Yousefi

TL;DR: The stock of international migrants is estimated at 247 million in 2013, significantly larger than the previous estimate of 232 million, and is expected to surpass 250 million in 2015 as mentioned in this paper, however, the growth of remittance flows to developing countries are expected to moderate sharply to 0.9 percent to $440 billion, led by a 12.7 percent decline in ECA and slowdown in East Asia and the Pacific, Middle-East and North Africa, and Sub-Saharan Africa.

TL;DR: In this paper, the authors re-examine financial deepening, focusing on what emerging markets can learn from the advanced economy experience, and find that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed.

TL;DR: This paper investigated the impact of financial deepening on economic growth across regions, income levels, and types of economy using a rich dataset for 150 countries for the period 1975-2005, and found that the beneficial effect of financial growing in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions such as the Middle East and North Africa (MENA); and in lower-income countries.

TL;DR: In this article, the authors introduce the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe, taking into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening.

TL;DR: In this article, the authors examined the behavior of remittances over the business cycle and their potential to act as a stabilizer during periods of high business cycle volatility and found that remittance can help support consumption stability.